01:33:52 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Aecon Group Inc
Symbol ARE
Shares Issued 61,011,826
Close 2022-10-25 C$ 9.87
Market Cap C$ 602,186,723
Recent Sedar Documents

Globe says Stifel's Landry keeps Aecon on "hold"

2022-10-25 08:36 ET - In the News

The Globe and Mail reports in its Tuesday, Oct. 25, edition that Stifel analyst Martin Landry has reaffirmed his "hold" recommendation for Aecon Group. The Globe's David Leeder writes in the Eye On Equities column that Mr. Landry shaved his share target by a loonie to $10. Analysts on average target the shares at $13.96. Mr. Landry says: "Aecon's concessions segment appears poised for growth over the next several years as the Eglinton LRT (2023), the Finch West LRT (2023), and Gordie Howe Bridge (2025) concessions come on-line while traffic continues its post-pandemic recovery at the 100-per-cent owned Bermuda Airport. However, in the near term, Aecon faces lump-sum turnkey headwinds with four large projects struggling, which could continue to weigh on the free cash flow generation. Due to this, we anticipate uneven financial performance over the next several quarters that could undermine investors' confidence in the Aecon investment case." The Globe reported on Aug. 3 that Desjardins analyst Benoit Poirier said he was sticking to the sidelines of Aecon. In the item he lowered his recommendation to "hold" from "buy." The shares could then be had for $10.80.

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